"This paper examines the effects of inflation targeting on industrial and emerging economies' output growth over the "globalization years" of 1986-2004. Controlling for trade openness and two indicators of financial globalization, the authors find systematic positive and significant effects of...

"The authors explore the relationship between transaction costs and generalized trust. Using panel data from 2,100 households in 135 rural communities of the Philippines, the paper shows that where transaction costs are reduced (proxied by road construction), there is an increase in generalized...

This book examines progress within Russia's financial sector and provides a road map for promoting dialogue on and implementing improvements. The book is intended to complement and support the joint strategic plan of Russia's government and Central Bank for banking reform, a plan that includes...

The Lebanon Economic Monitor provides an update on key economic developments and policies overthe past six months. It also presents findings from recent World Bank work on Lebanon. It places them in a longer-term and global context, and assesses the implications of these developments and other...

Morocco strives to reach a similar per capita income level to that of upper-middle income countries, and to reduce unemployment, which particularly affects women and youth. To meet these goals, the government recognizes the need to shift from a low-technology economy with a strong agricultural...